EUR/USD: Further downside beyond 1.08 may now not be forthcoming – OCBC

EUR/USD was last seen testing 1.10. The pair may gyrate within a wide 1.08 to 1.11 range pending the geopolitical headlines, economists at OCBC Bank report.

Potential for consolidation within the 1.08 to 1.11 range

“Geopolitics should still be the main driver for the EUR/USD. The outright negativity seems to have paused, with the focus shifting towards talks.”

“A near-term base at 1.08 could well be in place.”

“Potential for consolidation within the 1.08 to 1.11 range.”